Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

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Ejonco
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Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by Ejonco » Sat Nov 09, 2019 7:18 pm

First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?

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SlowMovingInvestor
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by SlowMovingInvestor » Sat Nov 09, 2019 7:32 pm

I don't think there is that much to choose between the brokerages (except VBS, which is a bit behind the other brokerages), but if I had to pick just one I'd go with Fidelity.

My ranking would be
Fidelity
Schwab
Etrade (below Schwab simply because Schwab has more offices).
TDAM
Merill Edge
Vanguard

If bonuses were a consideration, I would go with TDAM, which has a pretty good bonus going. Or ask Fido or Schwab to match that bonus.
Last edited by SlowMovingInvestor on Sat Nov 09, 2019 7:34 pm, edited 1 time in total.

retired@50
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by retired@50 » Sat Nov 09, 2019 7:33 pm

Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Do you actually have to transfer to get rid of the 1% fee? If you're not turned off of BofA/Merrill you could stay. Personally, I'm with Vanguard and I'm happy there.

Regards,
Last edited by retired@50 on Sat Nov 09, 2019 7:34 pm, edited 1 time in total.

student
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by student » Sat Nov 09, 2019 7:34 pm

In this case, I will transfer $100,000+ to Merrill Edge for the preferred rewards, which I think you are aware of. I will transfer the rest to Schwab for a bonus and ask them to reimburse account closing fee imposed by Merrill. I picked Schwab also because they have worldwide ATM fee reimbursement. If you are interested in AMEX Platinum, Schwab's version will give you a $100 break if you have $250,000+ or $200 if you have $1,000,000+.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by StandingRock » Sat Nov 09, 2019 7:39 pm

Avoid Vanguard if you value customer service.

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Ejonco
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by Ejonco » Sat Nov 09, 2019 7:43 pm

retired@50 wrote:
Sat Nov 09, 2019 7:33 pm
Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Do you actually have to transfer to get rid of the 1% fee? If you're not turned off of BofA/Merrill you could stay. Personally, I'm with Vanguard and I'm happy there.

Regards,

Hi. If I go below $1MM in balance the fee goes up to 1.25%.

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SlowMovingInvestor
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by SlowMovingInvestor » Sat Nov 09, 2019 7:46 pm

I think you need to look at your active asset portfolio (which may include high cost funds), decide what you want to do with them, whether you can sell without incurring substantial capital gains (maybe it's a tax advantaged account ?) and move to cheaper funds/ETFs.

Which brokerage to move these assets to should be lower on your list than these basics.

retired@50
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by retired@50 » Sat Nov 09, 2019 7:47 pm

Ejonco wrote:
Sat Nov 09, 2019 7:43 pm
retired@50 wrote:
Sat Nov 09, 2019 7:33 pm
Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Do you actually have to transfer to get rid of the 1% fee? If you're not turned off of BofA/Merrill you could stay. Personally, I'm with Vanguard and I'm happy there.

Regards,

Hi. If I go below $1MM in balance the fee goes up to 1.25%.
Wow. I was under the impression that BofA/Merrill had some sort of product that allowed do it yourself investors to take charge of things without an AUM fee. At 1% of $1MM, that's $10,000 per year. I'd leave ASAP.
Regards,

stan1
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by stan1 » Sat Nov 09, 2019 7:48 pm

Main thing you want is a platform which gives you access to the funds and ETFs you need to build your asset allocation. If you are willing to use ETFs you can do that at any of the brokerages you mention and add Chase. If you insist on only using mutual funds and want asset classes like small cap value or international small I think Vanguard is still the best choice. Vanguard has been the market leader driving down expenses. Time and time again they've reduced expenses and passed the savings onto customers. I prefer Vanguard ETFs for that reason but these days you can separate out the ETF from the brokerage. Hold low cost ETFs at the brokerages that give you free trades and whatever perks you can squeeze out of them.

Free perks come and go (they are marketing strategies). Agree right now the Merrill Edge / B of A credit card cash back perks are pretty good and worth taking advantage of while that marketing strategy is still offered.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by stan1 » Sat Nov 09, 2019 7:49 pm

Ejonco wrote:
Sat Nov 09, 2019 7:43 pm
retired@50 wrote:
Sat Nov 09, 2019 7:33 pm
Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Do you actually have to transfer to get rid of the 1% fee? If you're not turned off of BofA/Merrill you could stay. Personally, I'm with Vanguard and I'm happy there.

Regards,

Hi. If I go below $1MM in balance the fee goes up to 1.25%.
Look at Merrill Edge. That's their self-service arm and it is not tied to your local ML office who is probably the ones charging you the AUM fee. Still has the credit card perks with Bank of America.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by ShadowRegent » Sat Nov 09, 2019 7:52 pm

BofA/Merrill Edge has a great set of perks for parking at least $100k there, and I have done exactly that to get some of the best credit card rewards that are available. The only disappointment I've had with Merrill Edge is when they eliminated any meaningful yield on their cash sweep options for the CMA which I used to use as a checking account as well. Merrill Edge was also eager to give good bonuses when I transferred, though I realize that won't help much since you're already at Merrill.

Setting aside bonuses, I've found Fidelity to top my list personally. I use a Fidelity Account for checking and get a decent rate, have my HSA there, and with free commissions have started to do my taxable investing there as well. Zero complaints so far.

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Ejonco
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by Ejonco » Sat Nov 09, 2019 7:59 pm

SlowMovingInvestor wrote:
Sat Nov 09, 2019 7:46 pm
I think you need to look at your active asset portfolio (which may include high cost funds), decide what you want to do with them, whether you can sell without incurring substantial capital gains (maybe it's a tax advantaged account ?) and move to cheaper funds/ETFs.

Which brokerage to move these assets to should be lower on your list than these basics.

It’s about 50/50 in terms of retirement accounts and personal stock accounts. I thought I could move the stock purchases from ML to another broker without having to sell, no?

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Ejonco
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by Ejonco » Sat Nov 09, 2019 7:59 pm

SlowMovingInvestor wrote:
Sat Nov 09, 2019 7:46 pm
I think you need to look at your active asset portfolio (which may include high cost funds), decide what you want to do with them, whether you can sell without incurring substantial capital gains (maybe it's a tax advantaged account ?) and move to cheaper funds/ETFs.

Which brokerage to move these assets to should be lower on your list than these basics.

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SlowMovingInvestor
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by SlowMovingInvestor » Sat Nov 09, 2019 8:03 pm

Ejonco wrote:
Sat Nov 09, 2019 7:59 pm
SlowMovingInvestor wrote:
Sat Nov 09, 2019 7:46 pm
I think you need to look at your active asset portfolio (which may include high cost funds), decide what you want to do with them, whether you can sell without incurring substantial capital gains (maybe it's a tax advantaged account ?) and move to cheaper funds/ETFs.

Which brokerage to move these assets to should be lower on your list than these basics.

It’s about 50/50 in terms of retirement accounts and personal stock accounts. I thought I could move the stock purchases from ML to another broker without having to sell, no?
Yes, you can move them. But you'll have to see how they fit into your asset allocation goals and whether you need to sell some and incur taxes. The retirement accounts you can setup afresh with ETFs.

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Ejonco
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by Ejonco » Sun Nov 10, 2019 11:55 am

student wrote:
Sat Nov 09, 2019 7:34 pm
In this case, I will transfer $100,000+ to Merrill Edge for the preferred rewards, which I think you are aware of. I will transfer the rest to Schwab for a bonus and ask them to reimburse account closing fee imposed by Merrill. I picked Schwab also because they have worldwide ATM fee reimbursement. If you are interested in AMEX Platinum, Schwab's version will give you a $100 break if you have $250,000+ or $200 if you have $1,000,000+.
Your idea is excellent. I’m keeping $100K at ME and moving rest to fidelity. You rock!

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by dave1054 » Sun Nov 10, 2019 12:14 pm

Surprised many on Boglehead forum rank Vanguard dead last.
Nothing in life is free. The so called perks and customer services are paid one way or another. Most fixed income investments for example at Fidelity are about 30 basis points less than Vanguard. So if 100k of total is in money market or other fixed income, that is $300 per year or $3000 per year on 1 million. How many want to pay that hidden fee for fancy website, ATM card, etc.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by ruralavalon » Sun Nov 10, 2019 12:31 pm

Welcome to the forum :) .

I usually suggest
1) Vanguard
2) Fidelity
3) Schwab
In that order of preference.

Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Congratulations on your decision to do it yourself, that is the right choice.

You can manage your own investments at Merrill Edge without the 1% annual fee. Getting away from that 1% fee is more important than choice of brokerage, or any other consideration.

We have all of our accounts at Vanguard, use only Vanguard index funds, and are happy with that choice. Our experience with Vanguard customer service has always been good.

Vanguard has by far the largest selection of low expense mutual funds, and in addition to its own ETFs offers about 1,800 commission free ETFs of other companies including BlackRock (iShares) and State Street (SPDR).

Vanguard mutual funds are more tax-efficient, it has higher yield on its money market funds, and offers more tax-exempt bond funds than other fund companies.
Last edited by ruralavalon on Sun Nov 10, 2019 12:37 pm, edited 1 time in total.
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retired@50
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by retired@50 » Sun Nov 10, 2019 12:34 pm

ruralavalon wrote:
Sun Nov 10, 2019 12:31 pm
Ejonco wrote:
Sat Nov 09, 2019 7:18 pm
First time poster, apologies if this has been asked numerous times before:

I am currently with Merril (about $1MM) under active management (1% fee). Reading “Bogleheads Guide to Investing” and decided to do this myself! However, what is the best brokerage/bank to go with? Who has the most benefits for $1MM? For example, at Merril there are some great BoA perks. And who has the best online tools? Of you we’re transferring $1MM where would you go and why?
Congratulations on your decision to do it yourself, that is the right choice.

You can manage your own investments at Merrill Edge without the 1% annual fee. Getting away from that 1% fee is more important than choice of brokerage, or any other consideration.

We have all of our accounts at Vanguard, use only Vanguard index funds, and are happy with that choice. Our experience with Vanguard customer service has always been good.

Vanguard has by far the largest selection of low expense mutual funds, and in addition to its own ETFs offers about 1,800 commission free ETFs of other companies including BlackRock (iShares) and State Street (SPDR).

Vanguard mutual funds are more tax-efficient, it has higher yield on its money market funds, and offers more tax-exempt bond funds than other fund companies.
+1
I've been with Vanguard since 1998 and have never been disappointed.
Regards,

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by aristotelian » Sun Nov 10, 2019 12:35 pm

dave1054 wrote:
Sun Nov 10, 2019 12:14 pm
Surprised many on Boglehead forum rank Vanguard dead last.
Nothing in life is free. The so called perks and customer services are paid one way or another. Most fixed income investments for example at Fidelity are about 30 basis points less than Vanguard. So if 100k of total is in money market or other fixed income, that is $300 per year or $3000 per year on 1 million. How many want to pay that hidden fee for fancy website, ATM card, etc.
Now that trading is effectively free everywhere, Vanguard offers no real cost advantage. At that point it becomes a question of perks. Regarding ATM, Schwab actually reimburses ATM fees worldwide, so having an account there has actually saved me quite a bit of money over the years. I agree the investor should be attentive to the ways each business model is trying to eke out profit but I think it is quite possible for investors to come out ahead elsewhere. Vanguard has in a way become a victim of its own success. I do still have a Vanguard account primarily for their money market and muni bond offerings.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by mary1492 » Sun Nov 10, 2019 12:39 pm

.....
Last edited by mary1492 on Wed Dec 04, 2019 10:09 pm, edited 3 times in total.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by aristotelian » Sun Nov 10, 2019 12:39 pm

retired@50 wrote:
Sat Nov 09, 2019 7:47 pm
Wow. I was under the impression that BofA/Merrill had some sort of product that allowed do it yourself investors to take charge of things without an AUM fee. At 1% of $1MM, that's $10,000 per year. I'd leave ASAP.
Regards,
They do have a DIY option. No AUM and free trades for stocks and ETFs. I have my Roth there which also gives me 2.6% cash back on my credit card.

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SlowMovingInvestor
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by SlowMovingInvestor » Sun Nov 10, 2019 12:55 pm

dave1054 wrote:
Sun Nov 10, 2019 12:14 pm
Surprised many on Boglehead forum rank Vanguard dead last.
Nothing in life is free. The so called perks and customer services are paid one way or another. Most fixed income investments for example at Fidelity are about 30 basis points less than Vanguard. So if 100k of total is in money market or other fixed income, that is $300 per year or $3000 per year on 1 million. How many want to pay that hidden fee for fancy website, ATM card, etc.
You can get AGG (iShares Bond ETF) and BND (VG Bond ETF) at Fido. AGG was commission free for a while, now they're both commission free. Fidelity has very low cost bond mutual funds as well.

Why would you want 100K in MM ? You might be better off looking for an online bank for your emergency fund. You can get CDs or Treasuries at Fido as well as VG. And I would guess Fido's corporate and muni bond offerings (single bonds) are better than Vanguard's.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by fwellimort » Sun Nov 10, 2019 12:56 pm

If you do lots of foreign ATM transactions, then Schwab is the way to go.

If you have platinum or platinum honors, then Merrill Edge is the way to go. Don't forget, your bank of america credit cards also get better with preferred status.

If you have money to park somewhere or are investing in different types of bonds, Vanguard is the way to go as it has the best overall bonds and money market funds rate (many of the bond funds especially tax exempt don't have ETF equivalents). Also, if you would rather purchase mutual funds over ETF in taxable, Vanguard is the most tax efficient of them all.

If anything else, Fidelity should be the way to go if you plan on maximizing your own returns.

Etrade and TDAM really don't offer anything special compared to the rest. Maybe those two also have perks if you have a vast sum of assets, but I do not know of much perks having assets in those two.

Of course, if you can get bonuses in any of these brokerages, then those brokerages can be 'better' for you than the other brokerages.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by ruralavalon » Sun Nov 10, 2019 1:03 pm

Ejonco wrote:
Sat Nov 09, 2019 7:59 pm
SlowMovingInvestor wrote:
Sat Nov 09, 2019 7:46 pm
I think you need to look at your active asset portfolio (which may include high cost funds), decide what you want to do with them, whether you can sell without incurring substantial capital gains (maybe it's a tax advantaged account ?) and move to cheaper funds/ETFs.

Which brokerage to move these assets to should be lower on your list than these basics.

It’s about 50/50 in terms of retirement accounts and personal stock accounts. I thought I could move the stock purchases from ML to another broker without having to sell, no?
Yes. You can move the stocks in a taxable brokerage account "in kind" to another brokerage, without having to sell and with no tax consequences.

IRAs can be rolled over to IRAs elsewhere with no tax consequences. Investments in an IRA can be transferred "in kind" during a rollover, without selling them.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by AndrewXnn » Sun Nov 10, 2019 1:28 pm

I have brokerage accounts with Vanguard, Fidelity, E*Trade, TDAmeritrade & USAA.

Only single account with >$1M is at TDA.
Reason they were chosen for that is that they have the nearest office
where I have had face to face dealings, which went well.
They also gave me a special customer service phone number, but I have not used that service.
I'm not especially active, so don't typically need much service.

I've dealt the most with Vanguard because of my personal accounts and those of my church.
Never had a problem navigating customer support with Vanguard for any of those accounts.
Situation with the Church accounts, I am sure is not standard.
However, Vanguard has been totally reasonable.

E*Trade has been good to deal with.
Fidelity was quirky; seemed more complicated to deal with than necessary.
I really don't like their paper statements.
USAA account is mostly dormant, so not too sure how good/bad their service is.
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by stan1 » Sun Nov 10, 2019 1:37 pm

dave1054 wrote:
Sun Nov 10, 2019 12:14 pm
Surprised many on Boglehead forum rank Vanguard dead last.
Nothing in life is free. The so called perks and customer services are paid one way or another. Most fixed income investments for example at Fidelity are about 30 basis points less than Vanguard. So if 100k of total is in money market or other fixed income, that is $300 per year or $3000 per year on 1 million. How many want to pay that hidden fee for fancy website, ATM card, etc.
Times have changed. You can buy Vanguard ETFs at no cost at other brokerages. You get all the benefits of Vanguard's products and the customer service and perks of a higher cost operation like Fidelity or Schwab or Merrill Lynch. Yes you do have to manage your cash smartly. It is easy to transfer cash to and from a credit union or even Vanguard where you get higher yield. You can also buy an ultra short bond ETF at your brokerage instead of leaving it in a low yield cash account.

If you insist on only using mutual funds and no ETFs I do still think Vanguard is at the top.

This approach works now, will it still work in five years? Who knows. Credit card processing fees are still a huge source of profit in the financial services industry and once they finally disrupted a lot is going to change.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by fujiters » Sun Nov 10, 2019 1:40 pm

mary1492 wrote:
Sun Nov 10, 2019 12:39 pm
What is the benefit that is of interest to you (both) in the preferred rewards that Fidelity does not provide?

I have Fidelity, B of A/ME/preferred platinum and since everyone has gone to commission free trading, I am slowly moving away from B of A/ME - I see no benefit.
The improved rate of cash back on their suite of credit cards. 5.25% back on online, travel, dining, home improvement, gas and pharmacy, 3.5% back on groceries, and 2.65% back on other purchases.

See https://www.frugalprofessor.com/best-cr ... 9-edition/
“The purpose of the margin of safety is to render the forecast unnecessary.” -Benjamin Graham

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by JAZZISCOOL » Sun Nov 10, 2019 3:15 pm

I can provide insight on Schwab and Vanguard primarily.

Schwab has a lot more features I find to be very useful. Other than low cost passive ETF’s and MF’s, I especially like their performance reporting which allows you to check separate accounts for performance or to combine accounts and look at the aggregate. It also shows your asset allocation, risk-return metrics, etc. There are also a lot of ways to research different ETF’s or mutual funds you may be interested in investing in.

Vanguard seems to be less sophisticated in terms of their performance reporting and some of these other features above. That said, I use some of their products in my Schwab account and I like aspects of their business model and philosophy.

Schwab also has a lot of features that I haven’t explored but they have a very well-developed web site with many products and services (e.g. you can invest in bonds, CD’s, etc.) They offer products and services I have not explored like mortgages, etc., sometimes at an interest-rate discount for some clients. Overall, I’ve had good customer service experience with them.

Schwab also has a nifty Roth IRA tax calculator that helps determine expected taxes due when you convert a tIRA to a Roth IRA.

I have limited experience with E*TRADE but Schwab is much better in my experience. E*TRADE’s performance report goes back just 1 year which is quite short. I have limited data points with Fidelity, ML, etc. :happy
Last edited by JAZZISCOOL on Sun Nov 10, 2019 3:59 pm, edited 1 time in total.

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by illumination » Sun Nov 10, 2019 3:22 pm

I've used 4 of the 6 listed.

I would rate them:

1) Schwab
2) Fidelity
3) TD Ameritrade
4) Vanguard

Have not used E Trade or Merril Lynch

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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by ruralavalon » Sun Nov 10, 2019 4:52 pm

A lot depends on personal preference, in other words what you desire from your brokerage:
1) do you also want banking services like credit cards, free ATMs, checking account, savings account, CDs?
2) do you have a large taxable account, and so need very tax-efficient stock index funds or tax-exempt bond funds, or both?
3) do you want to use traditional mutual funds or Exchange Traded Funds (ETFs)?
4) do you want money market funds with good yields, so that you can have a large cash allocation or large emergency fund?
5) do you want a local customer service office?
Last edited by ruralavalon on Sun Nov 10, 2019 4:53 pm, edited 1 time in total.
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Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by kabob » Sun Nov 10, 2019 4:52 pm

Vanguard !!! – Rock Solid…
The Top 10 Largest Asset Management Companies In The World are:
1- BlackRock, $6.5 trillion
2- Vanguard, $5.2 trillion
3- Charles Schwab, $3.52 trillion
4- State Street Global Advisors, $2.81 trillion
5- JPMorgan Chase, $2.73 trillion
6- Fidelity Investments, $2.56 trillion
7- Allianz, $2.19 trillion
8- Capital Group Companies, $1.86 trillion
9- BNY Mellon, $1.7 trillion
10- Amundi Asset Management, $1.59 trillion

Vanguard is fast catching up on BlackRock as the world’s biggest money manager.
The two fund giants, whose combined assets are worth more than a third of the US stock market, have engaged in an aggressive battle for growth in recent years, leaving smaller competitors in their wake and sending shockwaves through the wider investment industry.
(above are recent snips from respected Pubs)

Tuff to beat Vanguard - they have earned my respect & business over time. Have had accts with Fidelity, Janus,Schwab,Etrade, old Merrill, but have centralized the majority of Financial Assets with Vanguard.
Have even purchased a house with a check from a Vanguard brokerage acct with check privileges, have had Vanguard administer Purchased Pension & Profit Sharing plans (from IRS pre-approved Plans) for employees for nothing more than completing the proper forms and sending in deposits, plus they have a Fine selection of Funds and ETF’s with among the Best Results and Returns…. Hey come on now, That’s Rock Solid Results and Reliability…

Some common cons/complains may be:
Lack of Fluffy/Friendly WebSite – but it’s Fully Functional! (and reliable) – they use computers for Results- Not Fluff
Sometimes Cumbersome Paperwork – but they Do Keep Ya Outa Trouble (never a problem with a Vanguard Fund/Plan)
For me at least, everything I’ve ever done with Vanguard in still workin – And Growin!

While I do keep the majority assets with Vanguard, I also keep and Etrade and a local Credit Union Acct.
I really like Etrade – for Etrade Pro (the Best outa the Bunch for trading platform[but requires sizeable bal, or fee for use] – but really nice platform and worth it)
And the local Credit Union provides full banking functions, notary & lockbox basically for free with reasonable bal.
That’s all I need for full financial services, Personal and Professional…

kabob
Posts: 11
Joined: Wed Oct 16, 2019 9:01 am
Location: Loudon, Tn

Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by kabob » Sun Nov 10, 2019 6:26 pm

Intereting... $1MM in one Acct?
Being Nuvo, i've been advised to Keep <$500K in any one Acct.... SIPC protection is $500,000, which includes a $250,000 limit for cash per Acct.
I (we, wife & I) have 5 Vanguard accounts, 1 each rollover IRA's 1 Roth IRA, ! joint brokerage acct, 1 (my original personal ) brokerage - and we're about to open another as my wife's brokerage - which will give us 6 accounts within our Vanguard umbrella.
Should one need worry about acct over 500K?

When we consolidated various accts we had accumulated over the yrs, we did notice there was some slow stepping and noises of fees from the accounts we were leaving... This was usually remedied by having the receiving account go get the $$$$ themselves by giving the receiving acct all info & current statement for the source acct (also doing/preparing/authorizing all transfer paperwork at the receiving acct). Simply its much easier to pull money from than to push...). Gotta say Vanguard is Very Good at pullin $$$$ from other places without fees.
However, does resistance (and possible fees) increase as the amt being removed increases?
(seams i do remember one 401K from a prev employer that would not release funds without a Significant Acct Closing Fee, even though it was a rollover to an existing IRA )

Moving Mil's sounds interesting - Would like to experience it...
Last edited by kabob on Mon Nov 11, 2019 8:36 am, edited 3 times in total.

mary1492
Posts: 60
Joined: Thu Oct 17, 2019 3:02 am

Re: Fidelity vs Vanguard vs Schwab vs TD vs Etrade vs Merril

Post by mary1492 » Sun Nov 10, 2019 7:03 pm

.....

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